CONWAY, Ark., Oct. 15, 2025 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE:HOMB) ("Home" or the "Company"), parent company of Centennial Bank, released quarterly earnings today.


Quarterly Highlights

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024
Net income	$123.6 million	$118.4 million	$115.2 million	$100.6 million	$100.0 million
Net income, as adjusted (non-GAAP)⁽¹⁾	$119.7 million	$114.6 million	$111.9 million	$99.8 million	$99.0 million
Total revenue (net)	$277.7 million	$271.0 million	$260.1 million	$258.4 million	$258.0 million
Income before income taxes	$159.3 million	$152.0 million	$147.2 million	$129.5 million	$129.1 million
Pre-tax, pre-provision, net income (PPNR) (non-GAAP)⁽¹⁾	$162.8 million	$155.0 million	$147.2 million	$146.2 million	$148.0 million
PPNR, as adjusted (non-GAAP)⁽¹⁾	$157.7 million	$150.4 million	$142.8 million	$145.2 million	$146.6 million
Pre-tax net income to total revenue (net)	57.38%	56.08%	56.58%	50.11%	50.03%
Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)⁽¹⁾	55.53%	54.39%	54.91%	49.74%	49.49%
P5_NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)⁽¹⁾	58.64%	57.19%	56.58%	56.57%	57.35%
P5_NR, as adjusted (non-GAAP)⁽¹⁾	56.80%	55.49%	54.91%	56.20%	56.81%
ROA	2.17%	2.08%	2.07%	1.77%	1.74%
ROA, as adjusted (non-GAAP)⁽¹⁾	2.10%	2.02%	2.01%	1.76%	1.72%
NIM	4.56%	4.44%	4.44%	4.39%	4.28%
Purchase accounting accretion	$1.3 million	$1.2 million	$1.4 million	$1.6 million	$1.9 million
ROE	11.91%	11.77%	11.75%	10.13%	10.23%
ROE, as adjusted (non-GAAP)⁽¹⁾	11.54%	11.39%	11.41%	10.05%	10.12%
ROTCE (non-GAAP)⁽¹⁾	18.28%	18.26%	18.39%	15.94%	16.26%
ROTCE, as adjusted (non-GAAP)⁽¹⁾	17.70%	17.68%	17.87%	15.82%	16.09%
Diluted earnings per share	$0.63	$0.60	$0.58	$0.51	$0.50
Diluted earnings per share, as adjusted (non-GAAP)⁽¹⁾	$0.61	$0.58	$0.56	$0.50	$0.50
Non-performing assets to total assets	0.56%	0.60%	0.56%	0.63%	0.63%
Common equity tier 1 capital	16.1%	15.6%	15.4%	15.1%	14.7%
Leverage	13.8%	13.4%	13.3%	13.0%	12.5%
Tier 1 capital	16.1%	15.6%	15.4%	15.1%	14.7%
Total risk-based capital	18.9%	19.3%	19.1%	18.7%	18.3%
Allowance for credit losses to total loans	1.87%	1.86%	1.87%	1.87%	2.11%
Book value per share	$21.41	$20.71	$20.40	$19.92	$19.91
Tangible book value per share (non-GAAP)⁽¹⁾	$14.13	$13.44	$13.15	$12.68	$12.67
Dividends per share	$0.20	$0.20	$0.195	$0.195	$0.195
Shareholder buyback yield⁽²⁾	0.18%	0.49%	0.53%	0.05%	0.56%

⁽¹⁾ Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

⁽²⁾Calculation of this metric is included in the schedules accompanying this release.

"HOMB's powerful, peer leading margins and efficiencies, coupled with strong revenues, propelled HOMB to another top tier, best in class third quarter performance," said John Allison, Chairman.

Financial Performance Trends

The chart below illustrates Home BancShares' consistent improvement in profitability over the past five quarters. Net income reached a record $123.6 million in Q3 2025, while net income, as adjusted (non-GAAP)⁽¹⁾, also set a new high at $119.7 million. This sustained upward trend reflects the Company's strong operational performance and effective management of one-time expenses.

Net Income

The chart below demonstrates Home BancShares' robust operational performance as measured by pre-tax, pre-provision, net income (PPNR) (non-GAAP)⁽¹⁾ over the past five quarters. PPNR is a key indicator of the Company's earnings power, as it reflects revenue generation and expense management before the impact of credit loss provisions and taxes.

PPNR The chart below highlights Home BancShares' strong and consistent return on average assets (ROA) over the past five quarters. ROA, a key measure of how efficiently the Company utilizes its assets to generate net income, has demonstrated a steady upward trend, reaching 2.17% in Q3 2025. This improvement reflects the Company's disciplined approach to asset management, prudent lending practices, and ongoing focus on operational efficiency.

ROA

The chart below underscores Home BancShares' strong and consistent performance in managing operating expenses, as reflected in its efficiency ratio over the past five quarters. The efficiency ratio is a key metric that measures how effectively the Company converts its revenue into net income by comparing non-interest expenses to total revenue. A lower efficiency ratio indicates greater operational efficiency and cost discipline, which are essential for sustaining profitability and enhancing shareholder value.

Efficiency Ratio

The tables below present additional key financial metrics over the past five quarters, including net interest margin (NIM), yield on interest-earning assets, rate on interest-bearing liabilities, and net interest spread. These metrics are fundamental indicators of the Company's profitability and operational efficiency.

NIM

NIM Yields/Rates

Operating Highlights

Net income for the three-month period ended September 30, 2025 was $123.6 million, or $0.63 diluted earnings per share, both of which were records for the Company. When adjusting for non-fundamental items, net income and diluted earnings per share on an as-adjusted basis (non-GAAP), were $119.7 million⁽¹⁾ and $0.61 per share⁽¹⁾, respectively, for the three months ended September 30, 2025.

The Company recorded $6.7 million in provision for credit losses on loans during the three-month period ended September 30, 2025. In addition, the Company recorded a $1.0 million recovery of credit losses on unfunded commitments. The Company also recorded a $2.2 million recovery of credit losses on investment securities. As a result, total credit loss expense for the three-month period ended September 30, 2025 was $3.5 million.

Our net interest margin was 4.56% and 4.44% for the three-month periods ended September 30, 2025 and June 30, 2025, respectively. The yield on loans was 7.39% and 7.36% for the three months ended September 30, 2025 and June 30, 2025, respectively, as average loans increased from $15.06 billion to $15.22 billion. Additionally, the rate on interest bearing deposits decreased to 2.62% as of September 30, 2025, from 2.64% as of June 30, 2025, while average interest-bearing deposits decreased from $13.43 billion to $13.32 billion.

During the third quarter of 2025, there was $1.5 million of event interest income compared to $516,000 of event interest income for the second quarter of 2025. Purchase accounting accretion on acquired loans was $1.3 million and $1.2 million for the three-month periods ended September 30, 2025 and June 30, 2025, respectively, and average purchase accounting loan discounts were $15.0 million and $16.2 million for the three-month periods ended September 30, 2025 and June 30, 2025, respectively.

Net interest income on a fully taxable equivalent basis was $229.1 million for the three-month period ended September 30, 2025, and $222.5 million for the three-month period ended June 30, 2025. This increase in net interest income for the three-month period ended September 30, 2025, was the result of a $4.8 million increase in interest income, and a $1.8 million decrease in interest expense. The $4.8 million increase in interest income was primarily the result of a $7.5 million increase in loan income. This was partially offset by a $2.7 million decrease in income from deposits with other banks. The $1.8 million decrease in interest expense was due to a $1.1 million decrease in interest expense on subordinated debt and a $527,000 decrease in interest expense on deposits. The $1.1 million decrease in interest expense on subordinated debt was a result of the Company repurchasing $20.0 million in par value of its $300.0 million Fixed-to-Floating Rate Subordinated Notes due 2032.

The Company reported $51.5 million of non-interest income for the third quarter of 2025. The most important components of non-interest income were $14.0 million from other income, $12.1 million from other service charges and fees, $10.5 million from service charges on deposit accounts, $4.7 million in mortgage lending income, $4.6 million from trust fees, $2.7 million from dividends from FHLB, FRB, FNBB and other, $1.4 million from the increase in cash value of life insurance and $1.0 million from the fair value adjustment for marketable securities. Included within other income were $2.0 million income from recoveries on historic losses, $1.9 million income from the gain on the retirement of subordinated debt, $1.8 million income from a recovery on a lawsuit and $187,000 in bank owned life insurance death benefit income.

Non-interest expense for the third quarter of 2025 was $114.8 million. The most important components of non-interest expense were $63.8 million salaries and employee benefits expense, $27.3 million in other operating expense, $14.8 million in occupancy and equipment expenses and $8.9 million in data processing expenses. For the third quarter of 2025, our efficiency ratio was 40.21%, and our efficiency ratio, as adjusted (non-GAAP), was 40.95%⁽¹⁾_.

Financial Condition

Total loans receivable were $15.29 billion at September 30, 2025, compared to $15.18 billion at June 30, 2025. Total loans receivable of $15.29 billion were a record for the Company. Total deposits were $17.33 billion at September 30, 2025, compared to $17.49 billion at June 30, 2025. Total assets were $22.71 billion at September 30, 2025, compared to $22.91 billion at June 30, 2025.

During the third quarter of 2025, the Company had a $105.3 million increase in loans. Our community banking footprint experienced $164.8 million in organic loan growth during the quarter ended September 30, 2025, and Centennial CFG experienced $59.4 million of organic loan decline and had loans of $1.78 billion at September 30, 2025.

Non-performing loans to total loans were 0.56% and 0.63% at September 30, 2025 and June 30, 2025, respectively. Non-performing assets to total assets were 0.56% and 0.60% at September 30, 2025 and June 30, 2025, respectively. Net loans charged-off were $2.9 million and $1.1 million for the three months ended September 30, 2025 and June 30, 2025, respectively. The charge-off detail by region for the quarters ended September 30, 2025 and June 30, 2025 can be seen below.


For the Three Months Ended September 30, 2025
(in thousands)	Texas			Arkansas			Centennial CFG		Shore Premier Finance			Florida			Alabama			Total
Charge-offs	$	2,496		$	605		$	—	$	735		$	807		$	8		$	4,651
Recoveries		(1,451	)		(225	)		—		(5	)		(47	)		(3	)		(1,731	)
Net charge-offs (recoveries)	$	1,045		$	380		$	—	$	730		$	760		$	5		$	2,920

For the Three Months Ended June 30, 2025
(in thousands)	Texas			Arkansas			Centennial CFG		Shore Premier Finance			Florida			Alabama			Total
Charge-offs	$	2,588		$	462		$	181	$	582		$	245		$	13		$	4,071
Recoveries		(2,172	)		(223	)		—		(22	)		(577	)		(2	)		(2,996	)
Net (recoveries) charge-offs	$	416		$	239		$	181	$	560		$	(332	)	$	11		$	1,075

At September 30, 2025, non-performing loans were $85.2 million, and non-performing assets were $126.5 million. At June 30, 2025, non-performing loans were $96.3 million, and non-performing assets were $137.8 million.

The table below shows the non-performing loans and non-performing assets by region as of September 30, 2025:

(in thousands)	Texas	Arkansas	Centennial CFG	Shore Premier Finance	Florida	Alabama	Total
Non-accrual loans	25,701	19,102	787	10,472	24,867	158	81,087
Loans 90+ days past due	3,167	704	—	—	254	—	4,125
Total non-performing loans	28,868	19,806	787	10,472	25,121	158	85,212

Foreclosed assets held for sale	16,711	972	22,812	—	768	—	41,263
Total other non-performing assets	16,711	972	22,812	—	768	—	41,263
Total non-performing assets	45,579	20,778	23,599	10,472	25,889	158	126,475

The table below shows the non-performing loans and non-performing assets by region as June 30, 2025:

(in thousands)	Texas	Arkansas	Centennial CFG	Shore Premier Finance	Florida	Alabama	Total
Non-accrual loans	22,487	16,276	787	11,716	37,833	162	89,261
Loans 90+ days past due	3,557	2,341	—	—	1,133	—	7,031
Total non-performing loans	26,044	18,617	787	11,716	38,966	162	96,292

Foreclosed assets held for sale	17,259	863	22,842	—	565	—	41,529
Total other non-performing assets	17,259	863	22,842	—	565	—	41,529
Total non-performing assets	43,303	19,480	23,629	11,716	39,531	162	137,821

The Company's allowance for credit losses on loans was $285.6 million at September 30, 2025, or 1.87% of total loans, compared to the allowance for credit losses on loans of $281.9 million, or 1.86% of total loans, at June 30, 2025. As of September 30, 2025 and June 30, 2025, the Company's allowance for credit losses on loans was 335.22% and 292.72% of its total non-performing loans, respectively.

During the third quarter of 2025, the Company completed the payoff of its $140.0 million 5.50% Fixed-to-Floating Rate Subordinated Notes due 2030. Each 2030 Note was redeemed at the redemption price of 100% of its principal amount, plus accrued and unpaid interest. In addition, the Company also repurchased $20.0 million of its $300.0 million Fixed-to-Floating Rate Subordinated Notes due 2032. The payoff and redemption activity had a negative impact to the Company's total risk-based capital ratio of 87 basis points, including 76 basis points from the payoff of the 2030 Notes and 11 basis points from the partial redemption of the 2032 Notes.

Shareholders' equity was $4.21 billion at September 30, 2025, which increased approximately $129.6 million from June 30, 2025. The net increase in shareholders' equity is primarily associated with the $84.2 million increase in retained earnings and the $52.8 million decrease in accumulated other comprehensive loss. This was partially offset by the $9.9 million in stock repurchases for the quarter. Book value per common share was $21.41 at September 30, 2025, compared to $20.71 at June 30, 2025. Tangible book value per common share (non-GAAP) was $14.13⁽¹⁾ at September 30, 2025, compared to $13.44⁽¹⁾ at June 30, 2025. Book value per common share, as of September 30, 2025, was a record for the Company.

Stock Repurchases and Dividends

During the three-month period ended September 30, 2025, the Company repurchased 350,000 shares of common stock, which equated to a shareholder buyback yield of 0.18%⁽²⁾. In comparison, during the three-month period ended June 30, 2025, the Company repurchased 1.0 million shares of common stock, which equated to a shareholder buyback yield of 0.49%⁽²⁾. The Company defines shareholder buyback yield as the percentage of the Company's market capitalization spent on share repurchases. It reflects how much the Company is returning to the shareholders by reducing the number of outstanding shares, and it is calculated by dividing the Company's total share repurchase cost for the period by the Company's total market capitalization at the beginning of the period.

In addition, during the quarter ended September 30, 2025, the Company paid a dividend of $0.20 per share. This cash dividend is consistent with the dividend paid during the second quarter of 2025.

Branches

The Company currently has 75 branches in Arkansas, 78 branches in Florida, 59 branches in Texas, 5 branches in Alabama and one branch in New York City. The Company opened a new branch in San Antonio, Texas during the third quarter of 2025.

Conference Call

Management will conduct a conference call to review this information at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, October 16, 2025. We strongly encourage all participants to pre-register for the conference call webcast or the live call using one of the following links. First, participants can pre-register for the conference call webcast using the following link: https://events.q4inc.com/attendee/934053232. Participants who pre-register will be given a unique webcast link to gain immediate access to the conference call webcast. Second, participants can pre-register for the live call using the following link: https://www.netroadshow.com/events/login/LE9zwo4C7j7DOGxiZMbL6kCGKNc4mh7WFOS. Participants who pre-register will be given the phone number and unique access codes to gain immediate access to the live call. Participants may pre-register now, or at any time prior to the call, and will immediately receive simple instructions via email. The Home BancShares conference call will also be scheduled as an event in your Outlook calendar.

Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833-470-1428, Passcode: 549176. A replay of the call will be available by calling 1-866-813-9403, Passcode: 541815, which will be available until October 23, 2025, at 11:59 p.m. CT. Internet access to the call will be available live or in recorded version on the Company's website at www.homebancshares.com.

About Home BancShares

Home BancShares, Inc. is a bank holding company headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, Texas, South Alabama and New York City. The Company's common stock is traded through the New York Stock Exchange under the symbol "HOMB." The Company was founded in 1998. Visit www.homebancshares.com or www.my100bank.com for more information.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). The Company's management uses these non-GAAP financial measures--including net income (earnings), as adjusted; pre-tax, pre-provision, net income (PPNR); PPNR, as adjusted; pre-tax net income, as adjusted, to total revenue (net); pre-tax, pre-provision, profit percentage; pre-tax, pre-provision, profit percentage, as adjusted; diluted earnings per common share, as adjusted; return on average assets, as adjusted; return on average assets excluding intangible amortization; return on average assets, as adjusted, excluding intangible amortization; return on average common equity, as adjusted; return on average tangible common equity; return on average tangible common equity, as adjusted; return on average tangible common equity excluding intangible amortization; return on average tangible common equity, as adjusted, excluding intangible amortization; efficiency ratio, as adjusted; tangible book value per common share and tangible common equity to tangible assets--to provide meaningful supplemental information regarding our performance. These measures typically adjust GAAP performance measures to include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant items or transactions that management believes are not indicative of the Company's primary business operating results. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's business. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

(2) Calculation of this metric is included in the schedules accompanying this release.

General

This release contains forward-looking statements regarding the Company's plans, expectations, goals and outlook for the future, including future financial results. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future events, performance or results. When we use words or phrases like "may," "plan," "propose," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "predict," "estimate," "could," "should," "would" and similar expressions, you should consider them as identifying forward-looking statements, although we may use other phrasing. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risks and uncertainties. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors include, but are not limited to, the following: economic conditions, credit quality, interest rates, loan demand, real estate values and unemployment, including any future impacts from inflation or changes in tariffs or trade policies; the ability to identify, complete and successfully integrate new acquisitions; the risk that expected cost savings and other benefits from acquisitions may not be fully realized or may take longer to realize than expected; diversion of management time on acquisition-related issues; the availability of and access to capital and liquidity on terms acceptable to us; legislative and regulatory changes and risks and expenses associated with current and future legislation and regulations; technological changes and cybersecurity risks and incidents; the effects of changes in accounting policies and practices; changes in governmental monetary and fiscal policies; political instability, military conflicts and other major domestic or international events; the impacts of recent or future adverse weather events, including hurricanes, and other natural disasters; disruptions, uncertainties and related effects on credit quality, liquidity and other aspects of our business and operations that may result from any future public health crises; competition from other financial institutions; potential claims, expenses and other adverse effects related to current or future litigation, regulatory examinations or other government actions; potential increases in deposit insurance assessments, increased regulatory scrutiny or market disruptions resulting from financial challenges in the banking industry; changes in the assumptions used in making the forward-looking statements; and other factors described in reports we file with the Securities and Exchange Commission (the "SEC"), including those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025.

FOR MORE INFORMATION CONTACT:

Donna Townsell

Director of Investor Relations

Home BancShares, Inc.

(501) 328-4625


Home BancShares, Inc.
Consolidated End of Period Balance Sheets
(Unaudited)

(In thousands)	Sep. 30, 2025			Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024
ASSETS

Cash and due from banks	$	284,750		$	291,344		$	319,747		$	281,063		$	265,408
Interest-bearing deposits with other banks		516,170			809,729			975,983			629,284			752,269
Cash and cash equivalents		800,920			1,101,073			1,295,730			910,347			1,017,677
Federal funds sold		3,625			2,600			6,275			3,725			6,425
Investment securities - available-for-sale, net of allowance for credit losses		2,924,496			2,899,968			3,003,320			3,072,639			3,270,620
Investment securities - held-to-maturity, net of allowance for credit losses		1,264,200			1,265,292			1,269,896			1,275,204			1,277,090
Total investment securities		4,188,696			4,165,260			4,273,216			4,347,843			4,547,710
Loans receivable		15,285,972			15,180,624			14,952,116			14,764,500			14,823,979
Allowance for credit losses		(285,649	)		(281,869	)		(279,944	)		(275,880	)		(312,574	)
Loans receivable, net		15,000,323			14,898,755			14,672,172			14,488,620			14,511,405
Bank premises and equipment, net		374,515			379,729			384,843			386,322			388,776
Foreclosed assets held for sale		41,263			41,529			39,680			43,407			43,040
Cash value of life insurance		219,075			218,113			221,621			219,786			219,353
Accrued interest receivable		110,702			107,732			115,983			120,129			118,871
Deferred tax asset, net		155,963			174,323			170,120			186,697			176,629
Goodwill		1,398,253			1,398,253			1,398,253			1,398,253			1,398,253
Core deposit intangible		34,231			36,255			38,280			40,327			42,395
Other assets		380,236			383,400			376,030			345,292			352,583
Total assets	$	22,707,802		$	22,907,022		$	22,992,203		$	22,490,748		$	22,823,117

LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Deposits:
Demand and non-interest-bearing	$	3,880,101		$	4,024,574		$	4,079,289		$	4,006,115		$	3,937,168
Savings and interest-bearing transaction accounts		11,500,921			11,571,949			11,586,106			11,347,850			10,966,426
Time deposits		1,946,674			1,891,909			1,876,096			1,792,332			1,802,116
Total deposits		17,327,696			17,488,432			17,541,491			17,146,297			16,705,710
Securities sold under agreements to repurchase		145,998			140,813			161,401			162,350			179,416
FHLB and other borrowed funds		550,500			550,500			600,500			600,750			1,300,750
Accrued interest payable and other liabilities		189,551			203,004			207,154			181,080			238,058
Subordinated debentures		279,093			438,957			439,102			439,246			439,394
Total liabilities		18,492,838			18,821,706			18,949,648			18,529,723			18,863,328

Shareholders' equity
Common stock		1,969			1,972			1,982			1,989			1,989
Capital surplus		2,214,211			2,221,576			2,246,312			2,272,794			2,272,100
Retained earnings		2,181,911			2,097,712			2,018,801			1,942,350			1,880,562
Accumulated other comprehensive loss		(183,127	)		(235,944	)		(224,540	)		(256,108	)		(194,862	)
Total shareholders' equity		4,214,964			4,085,316			4,042,555			3,961,025			3,959,789
Total liabilities and shareholders' equity	$	22,707,802		$	22,907,022		$	22,992,203		$	22,490,748		$	22,823,117

Home BancShares, Inc.
Consolidated Statements of Income
(Unaudited)

	Quarter Ended															Nine Months Ended
(In thousands)	Sep. 30, 2025			Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Sep. 30, 2025			Sep. 30, 2024
Interest income:
Loans	$	283,165		$	276,041		$	270,784		$	278,409		$	281,977		$	829,990		$	821,595
Investment securities
Taxable		26,326			26,444			27,433			28,943			31,006			80,203			96,822
Tax-exempt		7,743			7,626			7,650			7,704			7,704			23,019			23,276
Deposits - other banks		6,242			8,951			6,620			7,585			12,096			21,813			35,188
Federal funds sold		56			53			55			73			62			164			182
Total interest income		323,532			319,115			312,542			322,714			332,845			955,189			977,063
Interest expense:
Interest on deposits		87,962			88,489			86,786			90,564			97,785			263,237			286,074
Federal funds purchased		—			—			—			—			1			—			1
FHLB and other borrowed funds		5,378			5,539			5,902			9,541			14,383			16,819			42,914
Securities sold under agreements to repurchase		1,019			1,012			1,074			1,346			1,335			3,105			4,102
Subordinated debentures		3,007			4,123			4,124			4,121			4,121			11,254			12,340
Total interest expense		97,366			99,163			97,886			105,572			117,625			294,415			345,431
Net interest income		226,166			219,952			214,656			217,142			215,220			660,774			631,632
Provision for credit losses on loans		6,700			3,000			—			16,700			18,200			9,700			31,700
(Recovery of) provision for credit losses on unfunded commitments		(1,000	)		—			—			—			1,000			(1,000	)		—
Recovery of credit losses on investment securities		(2,194	)		—			—			—			(330	)		(2,194	)		(330	)
Total credit loss expense		3,506			3,000			—			16,700			18,870			6,506			31,370
Net interest income after credit loss expense		222,660			216,952			214,656			200,442			196,350			654,268			600,262
Non-interest income:
Service charges on deposit accounts		10,486			9,552			9,650			9,935			9,888			29,688			29,288
Other service charges and fees		12,130			12,643			10,689			11,651			10,490			35,462			31,358
Trust fees		4,600			5,234			4,760			4,526			4,403			14,594			14,191
Mortgage lending income		4,691			4,780			3,599			3,518			4,437			13,070			12,271
Insurance commissions		574			589			535			483			595			1,698			1,668
Increase in cash value of life insurance		1,404			1,415			1,842			1,215			1,161			4,661			3,635
Dividends from FHLB, FRB, FNBB & other		2,658			2,657			2,718			2,820			2,637			8,033			8,642
Gain on SBA loans		46			—			288			218			145			334			399
(Loss) gain on branches, equipment and other assets, net		(66	)		972			(163	)		26			32			743			2,076
(Loss) gain on OREO, net		(1	)		13			(376	)		(2,423	)		85			(364	)		151
Fair value adjustment for marketable securities		1,020			(238	)		442			850			1,392			1,224			2,121
Other income		13,963			13,462			11,442			8,403			7,514			38,867			21,552
Total non-interest income		51,505			51,079			45,426			41,222			42,779			148,010			127,352
Non-interest expense:
Salaries and employee benefits		63,804			64,318			61,855			60,824			58,861			189,977			180,198
Occupancy and equipment		14,828			14,023			14,425			14,526			14,546			43,276			43,505
Data processing expense		8,871			8,364			8,558			9,324			9,088			25,793			27,170
Other operating expenses		27,335			29,335			28,090			27,536			27,550			84,760			83,853
Total non-interest expense		114,838			116,040			112,928			112,210			110,045			343,806			334,726
Income before income taxes		159,327			151,991			147,154			129,454			129,084			458,472			392,888
Income tax expense		35,723			33,588			31,945			28,890			29,046			101,256			91,211
Net income	$	123,604		$	118,403		$	115,209		$	100,564		$	100,038		$	357,216		$	301,677

Home BancShares, Inc.
Selected Financial Information
(Unaudited)

	Quarter Ended															Nine Months Ended
(Dollars and shares in thousands, except per share data)	Sep. 30, 2025			Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Sep. 30, 2025			Sep. 30, 2024
PER SHARE DATA
Diluted earnings per common share	$	0.63		$	0.60		$	0.58		$	0.51		$	0.50		$	1.80		$	1.51
Diluted earnings per common share, as adjusted (non-GAAP)⁽¹⁾		0.61			0.58			0.56			0.50			0.50			1.75			1.51
Basic earnings per common share		0.63			0.60			0.58			0.51			0.50			1.81			1.51
Dividends per share - common		0.20			0.20			0.195			0.195			0.195			0.595			0.555
Shareholder buyback yield⁽²⁾		0.18	%		0.49	%		0.53	%		0.05	%		0.56	%		1.19	%		1.64	%
Book value per common share	$	21.41		$	20.71		$	20.40		$	19.92		$	19.91		$	21.41		$	19.91
Tangible book value per common share (non-GAAP)⁽¹⁾		14.13			13.44			13.15			12.68			12.67			14.13			12.67

STOCK INFORMATION
Average common shares outstanding		197,078			197,532			198,657			198,863			199,380			197,750			200,300
Average diluted shares outstanding		197,288			197,765			198,852			198,973			199,461			197,952			200,430
End of period common shares outstanding		196,889			197,239			198,206			198,882			198,879			196,889			198,879

ANNUALIZED PERFORMANCE METRICS

Return on average assets (ROA)		2.17	%		2.08	%		2.07	%		1.77	%		1.74	%		2.11	%		1.77	%
Return on average assets, as adjusted: (ROA, as adjusted) (non-GAAP)⁽¹⁾		2.10	%		2.02	%		2.01	%		1.76	%		1.72	%		2.04	%		1.77	%
Return on average assets excluding intangible amortization (non-GAAP)⁽¹⁾		2.34	%		2.25	%		2.24	%		1.92	%		1.88	%		2.28	%		1.92	%
Return on average assets, as adjusted, excluding intangible amortization (non-GAAP)⁽¹⁾		2.27	%		2.18	%		2.18	%		1.91	%		1.86	%		2.21	%		1.92	%
Return on average common equity (ROE)		11.91	%		11.77	%		11.75	%		10.13	%		10.23	%		11.81	%		10.53	%
Return on average common equity, as adjusted: (ROE, as adjusted) (non-GAAP)⁽¹⁾		11.54	%		11.39	%		11.41	%		10.05	%		10.12	%		11.45	%		10.55	%
Return on average tangible common equity (ROTCE) (non-GAAP)⁽¹⁾		18.28	%		18.26	%		18.39	%		15.94	%		16.26	%		18.31	%		16.91	%
Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) (non-GAAP)⁽¹⁾		17.70	%		17.68	%		17.87	%		15.82	%		16.09	%		17.75	%		16.94	%
Return on average tangible common equity excluding intangible amortization (non-GAAP)⁽¹⁾		18.51	%		18.50	%		18.64	%		16.18	%		16.51	%		18.55	%		17.18	%
Return on average tangible common equity, as adjusted, excluding intangible amortization (non-GAAP)⁽¹⁾		17.93	%		17.92	%		18.12	%		16.07	%		16.34	%		17.98	%		17.20	%

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.
(2) Calculation of this metric is included in the schedules accompanying this release.

Home BancShares, Inc.
Selected Financial Information
(Unaudited)

	Quarter Ended															Nine Months Ended
(Dollars in thousands)	Sep. 30, 2025			Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Sep. 30, 2025			Sep. 30, 2024
Efficiency ratio		40.21	%		41.68	%		42.22	%		42.24	%		41.42	%		41.35	%		42.91	%
Efficiency ratio, as adjusted (non-GAAP)⁽¹⁾		40.95	%		42.01	%		42.84	%		42.00	%		41.66	%		41.91	%		42.87	%
Net interest margin - FTE (NIM)		4.56	%		4.44	%		4.44	%		4.39	%		4.28	%		4.48	%		4.23	%
Fully taxable equivalent adjustment	$	2,916		$	2,526		$	2,534		$	2,398		$	2,616		$	7,976		$	6,136
Total revenue (net)		277,671			271,031			260,082			258,364			257,999			808,784			758,984
Pre-tax, pre-provision, net income (PPNR) (non-GAAP)⁽¹⁾		162,833			154,991			147,154			146,154			147,954			464,978			424,258
PPNR, as adjusted (non-GAAP)⁽¹⁾		157,704			150,404			142,821			145,209			146,562			450,929			422,176
Pre-tax net income to total revenue (net)		57.38	%		56.08	%		56.58	%		50.11	%		50.03	%		56.69	%		51.76	%
Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)⁽¹⁾		55.53	%		54.39	%		54.91	%		49.74	%		49.49	%		54.95	%		51.49	%
P5_NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)⁽¹⁾		58.64	%		57.19	%		56.58	%		56.57	%		57.35	%		57.49	%		55.90	%
P5_NR, as adjusted (non-GAAP)⁽¹⁾		56.80	%		55.49	%		54.91	%		56.20	%		56.81	%		55.75	%		55.62	%
Total purchase accounting accretion	$	1,272		$	1,233		$	1,378		$	1,610		$	1,878		$	3,883		$	6,523
Average purchase accounting loan discounts		15,009			16,219			17,493			19,090			20,832			16,257			22,813

OTHER OPERATING EXPENSES
Advertising	$	2,149		$	2,054		$	1,928		$	1,941		$	1,810		$	6,131		$	5,156
Amortization of intangibles		2,024			2,025			2,047			2,068			2,095			6,096			6,375
Electronic banking expense		3,357			3,172			3,055			3,307			3,569			9,584			10,137
Directors' fees		405			431			452			356			362			1,288			1,283
Due from bank service charges		404			283			281			271			302			968			860
FDIC and state assessment		3,245			1,636			3,387			3,216			3,360			8,268			12,172
Insurance		1,110			1,049			999			900			926			3,158			2,734
Legal and accounting		1,061			2,360			3,641			2,361			1,902			7,062			6,600
Other professional fees		2,083			2,211			1,947			1,736			2,062			6,241			6,406
Operating supplies		773			711			711			711			673			2,195			1,969
Postage		538			488			503			518			522			1,529			1,542
Telephone		367			419			436			438			455			1,222			1,369
Other expense		9,819			12,496			8,703			9,713			9,512			31,018			27,250
Total other operating expenses	$	27,335		$	29,335		$	28,090		$	27,536		$	27,550		$	84,760		$	83,853

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Home BancShares, Inc.
Selected Financial Information
(Unaudited)

(Dollars in thousands)	Sep. 30, 2025			Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024
BALANCE SHEET RATIOS
Total loans to total deposits		88.22	%		86.80	%		85.24	%		86.11	%		88.74	%
Common equity to assets		18.56	%		17.83	%		17.58	%		17.61	%		17.35	%
Tangible common equity to tangible assets (non-GAAP)⁽¹⁾		13.08	%		12.35	%		12.09	%		11.98	%		11.78	%
										.
LOANS RECEIVABLE
Real estate
Commercial real estate loans
Non-farm/non-residential	$	5,494,492		$	5,553,182		$	5,588,681		$	5,426,780		$	5,496,536
Construction/land development		2,709,197			2,695,561			2,735,760			2,736,214			2,741,419
Agricultural		331,301			315,926			335,437			336,993			335,965
Residential real estate loans
Residential 1-4 family		2,142,375			2,138,990			1,947,872			1,956,489			1,932,352
Multifamily residential		716,595			620,439			576,089			496,484			482,648
Total real estate		11,393,960			11,324,098			11,183,839			10,952,960			10,988,920
Consumer		1,233,523			1,218,834			1,227,745			1,234,361			1,219,197
Commercial and industrial		2,100,268			2,107,326			2,045,036			2,022,775			2,084,667
Agricultural		346,167			323,457			314,323			367,251			352,963
Other		212,054			206,909			181,173			187,153			178,232
Loans receivable	$	15,285,972		$	15,180,624		$	14,952,116		$	14,764,500		$	14,823,979

ALLOWANCE FOR CREDIT LOSSES
Balance, beginning of period	$	281,869		$	279,944		$	275,880		$	312,574		$	295,856
Loans charged off		4,651			4,071			3,458			53,959			2,001
Recoveries of loans previously charged off		1,731			2,996			7,522			565			519
Net loans charged off (recovered)		2,920			1,075			(4,064	)		53,394			1,482
Provision for credit losses - loans		6,700			3,000			—			16,700			18,200
Balance, end of period	$	285,649		$	281,869		$	279,944		$	275,880		$	312,574

Net charge-offs (recoveries) to average total loans		0.08	%		0.03	%		(0.11	)%		1.44	%		0.04	%
Allowance for credit losses to total loans		1.87	%		1.86	%		1.87	%		1.87	%		2.11	%

NON-PERFORMING ASSETS
Non-performing loans
Non-accrual loans	$	81,087		$	89,261		$	86,383		$	93,853		$	95,747
Loans past due 90 days or more		4,125			7,031			3,264			5,034			5,356
Total non-performing loans		85,212			96,292			89,647			98,887			101,103
Other non-performing assets
Foreclosed assets held for sale, net		41,263			41,529			39,680			43,407			43,040
Other non-performing assets		—			—			63			63			63
Total other non-performing assets		41,263			41,529			39,743			43,470			43,103
Total non-performing assets	$	126,475		$	137,821		$	129,390		$	142,357		$	144,206

Allowance for credit losses for loans to non-performing loans		335.22	%		292.72	%		312.27	%		278.99	%		309.16	%
Non-performing loans to total loans		0.56	%		0.63	%		0.60	%		0.67	%		0.68	%
Non-performing assets to total assets		0.56	%		0.60	%		0.56	%		0.63	%		0.63	%

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Home BancShares, Inc.
Consolidated Net Interest Margin
(Unaudited)

	Three Months Ended
	September 30, 2025						June 30, 2025
(Dollars in thousands)	Average Balance		Income/ Expense		Yield/ Rate		Average Balance		Income/ Expense		Yield/ Rate
ASSETS
Earning assets
Interest-bearing balances due from banks	$	567,617	$	6,242	4.36	%	$	813,833	$	8,951	4.41	%
Federal funds sold		5,142		56	4.32	%		4,878		53	4.36	%
Investment securities - taxable		3,039,247		26,326	3.44	%		3,095,764		26,444	3.43	%
Investment securities - non-taxable - FTE		1,115,834		10,201	3.63	%		1,113,044		10,033	3.62	%
Loans receivable - FTE		15,216,448		283,623	7.39	%

Strength is Still the Story at HOMB with Another Record Breaking Quarter